Wall Street Zen Downgrades Atlanticus (NASDAQ:ATLC) to Buy

Atlanticus (NASDAQ:ATLC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

ATLC has been the topic of a number of other reports. Citigroup reiterated an "outperform" rating on shares of Atlanticus in a report on Thursday, July 16th. Texas Capital upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. BTIG Research lifted their price target on shares of Atlanticus from $105.00 to $179.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. HSBC set a $144.00 price target on Atlanticus in a report on Monday, July 13th. Finally, William Blair set a $100.00 price objective on Atlanticus in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Atlanticus has an average rating of "Moderate Buy" and an average price target of $126.00.

Atlanticus Price Performance

Shares of Atlanticus stock opened at $100.01 on Friday. Atlanticus has a 52 week low of $47.50 and a 52 week high of $114.34. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.51 billion, a PE ratio of 13.01 and a beta of 2.11. The company's 50-day moving average price is $98.04 and its two-hundred day moving average price is $75.25.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. Atlanticus had a net margin of 5.80% and a return on equity of 26.06%. The company had revenue of $744.31 million during the quarter, compared to analyst estimates of $716.35 million. As a group, sell-side analysts anticipate that Atlanticus will post 9.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Frank J. Hanna III sold 15,676 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the transaction, the insider directly owned 259,392 shares of the company's stock, valued at approximately $27,044,209.92. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey A. Howard sold 10,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the sale, the chief executive officer directly owned 663,265 shares of the company's stock, valued at approximately $68,322,927.65. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 75,000 shares of company stock worth $7,868,627. 51.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATLC. BlackRock Inc. purchased a new position in shares of Atlanticus during the 2nd quarter valued at $43,535,000. Wellington Management Group LLP increased its stake in shares of Atlanticus by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider's stock worth $47,152,000 after acquiring an additional 249,100 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider's stock worth $6,233,000 after acquiring an additional 112,407 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Atlanticus by 133.5% during the second quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider's stock worth $5,105,000 after acquiring an additional 53,312 shares in the last quarter. Finally, UBS Group AG boosted its position in Atlanticus by 333.2% during the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider's stock valued at $2,516,000 after purchasing an additional 28,907 shares during the last quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

About Atlanticus

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.

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